Albertsons has named food industry veteran Andrew Murray as its next CFO, effective Jan. 17, 2027, the supermarket chain announced Tuesday.
Murray, currently CFO of New Zealand dairy exporter Fonterra Co-Operative Group, will take over from Cody Perdue, who has served as Albertsons’ interim CFO since late September. Perdue will remain with the retailer as senior vice president of treasury, investor relations and risk management.
Murray’s appointment is the latest in a series of high-profile changes Albertsons has made in recent months as it strives to rejuvenate its sagging performance.
Albertsons’ choice of Murray brings the supermarket chain a finance chief with extensive experience in the food industry.
As CFO of Fonterra, a farmer-owned dairy producer with global operations, Murray is in charge of finance, strategy, M&A, information technology, financial trading and procurement. Murray has worked at Fonterra since early 2023 and served as group CFO since August 2024. The company announced his resignation on Oct. 16, noting that he will remain with the co-op until the end of 2026.
Murray has also worked for Simplot Australia, a division of the international agriculture company based in Boise, Idaho, where Albertsons is also headquartered. In addition, Murray’s resume includes time at snack manufacturer Mondelez International.
“Andrew is a highly respected senior leader with strong expertise in driving profitable growth and large-scale business transformation which will be invaluable during this critical turnaround time at Albertsons,” Albertsons CEO Susan Morris said in a statement. “I look forward to working with Andrew and our leadership team as we simplify the organization, improve decision-making, reinvest savings in customer value and boost long-term shareholder returns.”
Murray will receive a compensation package that includes an annualized base salary of $900,000 and a $1 million signing bonus. He will also be eligible for a target cash bonus equivalent to his base salary.
Murray will join Albertsons as it looks to reverse a pattern of declining sales that has seen it report negative same-store sales growth for the past two quarters. The grocer also recently implemented a simplified operating structure, consolidating 11 former divisions into four regions.
Murray will replace former Albertsons President and CFO Sharon McCollam, who the company said in July plans to retire this year. McCollam will remain as an advisor to the retailer until Feb. 27, 2027.
Albertsons’ decision to look outside the company for a permanent CFO continues the retailer’s efforts to bring in talent with experience beyond the grocery sector to help drive its turnaround.
In September, the company named former technology industry executive Meg Whitman to the newly created position of executive chair. Albertsons also sharply expanded its board, bringing on multiple directors from outside the supermarket industry.
